Westport CT Real Estate Market Update Week of March 27, 2012

There is nearly a four percent increase in inventory in this past week alone, and there are now 338 homes that are actively on the market, and their average list price is  $2,119,365.  These properties that are currently available  have been listed for average of 108 days, and the median price has risen slightly to $1,350,000.

The highest asking price for all homes currently on the market is
$19,900,000, and the lowest available priced home is $192,900.

Twenty-three new listings came on the market in the last seven days, and two homes came back on the market after being under deposit. Eleven properties
had a price change.

Fourteen properties have gone under the initial deposit stage, which we call
CTS, and eight properties went into pending status, which means that the
conditions have been satisfied, and the property is scheduled to close.

The average price of these eight pending properties was $1,583,336 and they
were on the market an average of 114 days.

Closings: Two homes were reported as sold in the last week, and their
average list price was $2,835,000. Average market time for these sold
properties was 116 days. There were 69 status changes in the last seven
days.

Condos: There are nineteen condominiums that are available, and they have
been listed an average of 159 days. Their average listing price is
$642,415,  and the median price is  $519,999. The highest priced condo in
town is listed at $1,495,000 and the lowest offering price is $299,000.

There was one new listing this past week, and no properties came back on the market after being under deposit. Two properties had a price change. Three properties went into the CTS stage, while no properties entered into the pending stage of deposit.
No condominiums were reported as sold in the last seven days. There were six status changes.

Rentals: If you are interested in renting year round, either furnished or
unfurnished, there are 63 homes or apartments available. The median price
is $3,500 per month and the average price is $5,562 per month. These year round
rental opportunities have been on the market an average of 78 days.

The short-term rental market is continuing to flourish and a steady increase over the past few week brings the current total  to 42 seasonal rental opportunities that are  available, and they
have been on the market an average of 37 days.  Their  average price is
$20,384, and the median price is $13,750. Please note that seasonal rental
prices are sometimes listed as an aggregate price for the season, or they
can be listed as per the monthly rental cost.

Source: Market Data is compiled from the GFC-CMLS and represents activity
through our local MLS system. Private sales are not included in these
statistics.

If you have a question about buying or selling Real Estate in Westport, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy